Bitcoin’s crazy journey from high to high is set to have major ramifications. There’s a whole education and training industry shaping up, for example. That’s possibly just a precursor to the massive change we’ll see if digital currencies are generally accepted as a medium of value exchange.
The University of Alabama is teaming up with Chainalysis, a provider of compliance and investigation software of virtual currency transactions. Through the partnership, both organizations will aim to offer “cutting-edge” education and training for students.
Blockchain analysis firm Chainalysis noted in a blog post that it will provide access to its software and training programs – which have reportedly been developed by instructional design and training experts “for integration into a course offered through the UA Department of Criminology and Criminal Justice.”
According to Chainalysis, students will be learning about the role of cryptocurrencies in the financial system and criminal transactions. They’ll also develop an understanding of the principles of the underlying blockchain or distributed ledger technologies (DLT) that underpins virtual currencies.
Historical Performance And IFISA Process Guide
That figure is the result of over £20 million of loans facilitated on the site, as we bring individuals looking for a good return on capital together with carefully vetted small companies seeking funds for growth. Bear in mind that lenders’ capital is at risk. Read warnings on site before committing capital.
All loans on site are eligible to be held in a Money&Co. Innovative Finance Individual Savings Account (IFISA), up to the annual ISA limit of £20,000. Such loans offer lenders tax-free income. Our offering is an Innovative Finance ISA (IFISA) that can hold the peer-to-peer (P2P) business loans that Money&Co. facilitates. For the purposes of this article, the terms ISA and IFISA are interchangeable.
So here’s our guide to the process:
The ISA allowance for 2019/20 is unchanged from last tax year at £20,000, allowing a married couple to put £40,000 into a tax-free environment. Over three years, an investment of this scale in two Money&Co. Innovative Finance ISAs would generate £8,400 of income completely free of tax. We’re assuming a 7 per cent return, net of charges and free of tax here.
Once you have made your initial commitment, you might then consider diversifying – buying a spread of loans. To do this, you can go into the “loans for sale” market. All loans bought in this market also qualify for IFISA tax benefits.
Risk: Security, Access, Yield
Do consider not just the return, but the security and the ease of access to your investment. We write regularly about these three key factors. Here’s one of several earlier articles on security, access and yield.